SARCO posts SAR 17.2 mln net profit in FY2019

12/03/2020 Argaam Exclusive

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Saudi Arabia Refineries Co. (SARCO) reported a net profit after Zakat and tax of SAR 17.2 million for the fiscal year of 2019, an increase of 18% year-on-year (YoY), from SAR 14.6 million a year ealier.

The profit increase was driven by SAR 22.79 million in dividends from its affiliate Saudi Industrial Investment Co.

Financials (M)

Item	2018	2019	Change‬
Operating Income	(3.17)	(3.14)	1.0 %
Net Income	14.56	17.17	18.0 %
Average Shares	15.00	15.00	-
EPS (Riyals)	0.97	1.14	18.0 %

In Q4 2019, net profit edged down 3% YoY to SAR 9 million.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2018	Q4 2019	Change‬
Operating Income	(1.04)	(1.39)	(33.4 %)
Net Income	9.37	9.04	(3.5 %)
Average Shares	15.00	15.00	-
EPS (Riyals)	0.62	0.60	(3.5 %)

Item	Q3 2019	Q4 2019	Change‬
Operating Income	(0.42)	(1.39)	(227.7 %)
Net Income	(0.83)	9.04	1192.1 %
Average Shares	15.00	15.00	-
EPS (Riyals)	(0.06)	0.60	1192.1 %

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